Manila: The implementation of the proposed ASEAN Power Grid is among the Philippines' priority economic deliverables as it chairs the 48th ASEAN Summit, aimed at strengthening regional energy security and resilience amid global uncertainties. Department of Trade and Industry (DTI) Undersecretary Allan Gepty stated that this initiative is part of a broader set of economic priorities designed to deepen integration and address external shocks affecting the region.
According to Philippines News Agency, Gepty emphasized that the priority economic deliverables for this year are timely, forward-looking, and strategic. Speaking during a press briefing ahead of the 48th ASEAN Summit and Related Meetings scheduled from May 6 to 8, he highlighted that the memorandum of understanding on the ASEAN Power Grid envisions cross-border electricity trade, which would allow member states to share energy resources and stabilize supply across the region.
The initiative is particularly relevant as Southeast Asia faces rising energy costs and supply pressures due to geopolitical tensions, including the ongoing conflict in the Middle East. Gepty underscored the importance of strengthening regional energy connectivity to mitigate vulnerabilities and ensure long-term energy stability.
In addition to the power grid initiative, ASEAN is working to finalize the ASEAN-Canada Pre-Trade Agreement, aiming to expand trade networks and create new economic opportunities for member states. Other priority deliverables include promoting digital trade, boosting investments in green and high-growth sectors, and advancing sustainable agriculture systems.
Gepty stressed that ASEAN's coordinated response is vital to maintaining trade flows, supporting businesses, and sustaining economic growth amid global challenges. He remarked, "A more integrated ASEAN is not just an aspiration. It is a necessity."
Under the leadership of President Ferdinand R. Marcos Jr., the Philippines is hosting the summit this year under the theme "Navigating Our Future, Together," with a focus on economic resilience and regional cooperation. ASEAN leaders are set to meet on Friday.
